Tech Giants: Starting from Bankrupt Companies

312: Chapter 312 The Gamble in ManilaMornings in Manila are always bustling.

The honking of jeepneys, the cries of street vendors, and the tolling of church bells blend together to form this city’s unique symphony.

But inside the high walls of the Presidential Palace, all of this is shut out.

Duterte sat in his office, holding the telephone receiver.

His seventy-five-year-old voice was still raspy, but as clear as if he had just finished a cup of strong coffee: ”Mr. Su, I apologize for bothering you so early. The American Ambassador sat in my office until eleven last night. He brought a letter from the White House.”

On the other end of the line, Su Chen’s voice was calm: ”Mr. President, what do you need me to do?”

Duterte laughed, the sound echoing in the empty office.

”No, Mr. Su. I don’t need you to do anything. I just wanted to tell you—despite their pressure, I have decided to come.”

He paused, casting his gaze out the window. The Pasig River shimmered with a murky light under the sun, and the riverbank was lined with dense slums.

”Because I have figured one thing out. What can the United States give the Philippines? A few old ships, a few thousand study abroad spots, and annual military exercises. But what Xingchen can give the Philippines are nickel refineries, photovoltaic factories, and 300,000 jobs.”

Su Chen was silent for two seconds: ”Mr. President, Xingchen will not let you down.”

Duterte nodded: ”I know. That’s why I’m coming.”

8:00 AM, the United States Embassy in the Philippines.

Ambassador Kim Sung sat in his office with three documents spread out before him. The first was an encrypted telegram just sent from the White House, the second was Duterte’s schedule for the afternoon, and the third was a summary of Xingchen’s signing proposal.

Fifty-eight-year-old Kim Sung was a Korean-American who had worked in the diplomatic service for thirty years and considered himself to have seen all kinds of difficult opponents. But Duterte was the most unpredictable person he had ever encountered.

A counselor pushed the door open: ”Mr. Ambassador, the car is ready.”

Kim Sung stood up and straightened his tie.

”The White House requires us to make one last effort.”

The counselor hesitated: ”Mr. Ambassador, you spoke until eleven last night, and he didn’t budge.”

Kim Sung gritted his teeth: ”Then we’ll talk again. Double the military aid.”

9:30 AM, Presidential Palace reception room.

Kim Sung sat opposite Duterte, his attitude more sincere than the night before. His body was leaning forward slightly, his eyes focused, and his tone carried just the right amount of urgency.

”Mr. President, the United States has decided to increase military aid from $50 million to $150 million. At the same time, we are willing to provide two decommissioned ’Hamilton’-class patrol ships, free of charge.”

Duterte laughed.

There was no mockery in that smile, only a complex sense of emotion.

”Mr. Ambassador, let me ask you a question.”

Kim Sung nodded.

”How many jobs can the F-35 bring to the Philippines?”

Kim Sung was stunned.

”How many Filipino families can a destroyer support?”

Silence.

”How many nickel refineries can $100 million in military aid build?”

A longer silence.

Duterte stood up and walked to the window.

Outside the window, the view of Manila Bay was in full view. Several cargo ships were sailing out of the port, and seagulls were circling at low altitude.

”Mr. Ambassador, the things the United States gives are very good. Very expensive. But the Filipino people don’t want weapons; they want jobs. They want their children to not have to go to Hong Kong to work as maids, or to the Middle East to work as laborers.”

He turned around.

”Xingchen can give the Philippines 300,000 jobs. Can the United States?”

Kim Sung opened his mouth but found he had nothing to say.

Duterte laughed.

”Then there is nothing left to talk about.”

2:00 PM, Ninoy Aquino International Airport.

Duterte’s motorcade drove onto the tarmac.

A Philippine Airlines private jet was on standby, and the boarding stairs had been lowered. The entourage stood by the plane—the Secretary of the Treasury, the Minister of Energy, the Secretary of Trade and Industry, and fifteen technical and negotiation experts.

Reporters were blocked outside the cordon, but their lenses were all aimed at the old man wearing a floral shirt.

Before boarding, Duterte suddenly stopped and turned to the press area.

”I am going to Shenzhen, not to beg for food.” His voice carried through the microphone across the venue, ”I am going to secure livelihoods for the Filipino people.”

After speaking, he turned and boarded the plane.

4:00 PM, when the private jet landed, the sun was scorching.

Duterte walked out of the cabin door, saw that familiar figure on the tarmac, and smiled.

”General Manager Lin, it’s you again.”

Lin Wan walked up quickly and shook his hand: ”Mr. President, Mr. Su said you are his old friend. He has brewed tea at the headquarters waiting for you.”

Duterte’s eyes lit up: ”Mr. Su is very thoughtful.”

The motorcade drove out of the airport and sped toward Nanshan.

Xingchen Headquarters reception room.

Su Chen stood up to greet him, and the two shook hands.

”Mr. Su, my call this morning didn’t wake you, did it?”

Su Chen smiled: ”Mr. President, Xingchen’s phones are on twenty-four hours a day.”

Duterte laughed heartily and patted his shoulder.

5:30 PM, the first round of negotiations: Nickel refinery.

The Secretary of the Treasury, Dominguez, sat at the negotiating table. He was seventy years old, with a full head of white hair, but his eyes were sharp. He was a confidant of Duterte and had served in multiple cabinet positions.

”Mr. Su, the Philippines has the second-largest nickel ore reserves in the world. But our problem, just like Indonesia, is that we can only sell raw ore.”

Su Chen nodded: ”So Xingchen’s plan is—processing on-site.”

The big screen displayed data:

Philippines-Xingchen Nickel Refinery Project

Location: Mindanao, Surigao Mining Area

Investment: $3.5 billion

Equity Ratio: 55% Xingchen, 45% Philippines

Capacity: 150,000 tons of battery-grade nickel per year

Employment: 8,000 direct, 35,000 indirect

Technology: Xingchen provides full-process smelting technology; core formulas are not transferred but licensed for use

Market: 80% for Xingchen-affiliated battery factories, 20% reserved for Philippines’ independent sales

Dominguez looked at Duterte.

Duterte nodded: ”That’s acceptable.”

6:30 PM, negotiations resumed. Minister of Energy Cusi spoke. He was sixty-five years old, an expert in the energy field, and had held this position for eight years.

”The Philippines has 7,000 islands. Many islands have no power grid and can only rely on diesel power generation. Electricity costs are three times that of Manila.”

Lin Wan took over: ”So Xingchen’s plan is—photovoltaic plus wind power plus energy storage, distributed power supply. We can also export 16-megawatt wind turbines.”

The big screen displayed the second agreement:

Philippines-Xingchen Photovoltaic Module Factory

Location: Batangas Province, Industrial Park

Investment: $2.5 billion

Equity Ratio: 50% Xingchen, 50% Philippines

Capacity: 5 GW of photovoltaic modules and 2 GWh of energy storage systems per year

Employment: 5,000 direct, 20,000 indirect

Market: 60% for Philippines ”Build, Build, Build” projects, 40% export to ASEAN

Technology: Xingchen provides high-efficiency PERC battery technology, licensed for use

Cusi asked: ”What about grid connection?”

Lin Wan was prepared: ”Xingchen will cooperate with the National Grid Corporation of the Philippines to provide ’photovoltaic + energy storage + microgrid’ solutions for 300 unelectrified islands within three years.”

Duterte’s eyes lit up.

”This is what Filipinos have been waiting thirty years for.”

Lin Wan continued: ”Additionally, Xingchen can export 50 units of 16-megawatt offshore wind turbines to the Philippines. The entire unit includes installation, with an export price of 150 million rmb per unit.”

The big screen data:

16-Megawatt Offshore Wind Turbine Procurement Agreement

Quantity: 50 units

Unit Price: 150 million rmb

Total Amount: 7.5 billion rmb

Installation Location: Philippines coastal wind farms

Annual Power Generation: 66 million kWh per unit, enough for 36,000 households

Cusi calculated quickly: ”7.5 billion rmb, which is about $1 billion.”

Duterte looked at Su Chen: ”Mr. Su, how much clean electricity can these 50 wind turbines bring to the Philippines?”

”Enough to supply 1.8 million households.”

Duterte nodded: ”Sign it.”

7:30 PM, signing hall.

On the long table, three agreements were neatly arranged.

First: ”Nickel Refinery Investment Agreement”

Second: ”Photovoltaic Module Factory and Rural Electrification Agreement”

Third: ”16-Megawatt Offshore Wind Turbine Procurement Agreement”

Total Amount: $6 billion (approximately 42 billion rmb).

Additional clauses:

The Philippines joins the Xingchen Payment System.

Xingchen promises to prioritize hiring local Filipino employees and train 3,000 engineers within five years.

The Philippines promises to reduce nickel ore export taxes to ensure the supply of raw materials for Xingchen.

Both parties will jointly establish the ”Philippines-Xingchen Infrastructure Fund,” each contributing $500 million to support ”Build, Build, Build 2.0.”

When Duterte signed, his hand was firm.

When Su Chen signed, his brushwork was steady.

The two exchanged agreements and shook hands.

The flashlights went off.

Thus, Vietnam, Malaysia, Thailand, Indonesia, and the Philippines have all joined the Xingchen Payment System. The number of Xingchen Payment member countries has expanded to thirty.